Brewin Dolphin's Views and Forecasts for 2015

Tim Walker Head of Brewin Dolphin in Exeter said “We anticipate a significant year in 2015 – the unpredictable election and talk from all sides about more devolution will give us much to consider and be sure any changes will advantage our clients and our business here in Exeter.  Whilst we are impressed with the Government’s reform of savings to date, now is perhaps the time for some stability as too many short term changes to long term savings plans, can dent the confidence that savers need to invest for their futures.”

Tim Walker Head of Office and Divisonal Director at Brewin Dolphin in Exeter

David Nicol, Chief Executive of Brewin Dolphin said, “2015 sees the curtain open on the most uncertain political landscape in living memory - and there is very little idea of how this drama will play out. In this context, Brewin Dolphin is doing all it can to grow and protect its clients' wealth so that they will be in the best possible position to withstand whatever politicians deliver. The biggest challenge to our industry is to ensure that savers can benefit from the veritable savings revolution that starts on Flexiday in April and for the years to come.”

Stephen Ford, Head of Investment Management said, “We already know that the financial services industry begins this year with one of its biggest challenges yet. Wide ranging and huge changes to pension rules mean that financial advice will be of more importance than ever, and with questions remaining about how simplified advice will be implemented there has never been a more important time for this industry to make its voice heard.  Collectively we have to ensure that everyone understands the significance of these changes and that the State won’t be able to support us all to the same extent in future – and so savers need to make good decisions in increasingly complex areas. Brewin Dolphin is responding to these needs by reshaping our proposition to ensure we provide advice on the right products and have the expertise to do the best for our customers.”

Guy Foster, Head of Research said, “We have below consensus expectations for global growth next year as we see a combination of policies which is unhelpful for growth. Growth is clearly still very weak in a number of major economies while some others are seeing their growth faltering. The response still comes only from central banks, not from governments. We see an increasing number of economies lowering interest rates and potentially employing unconventional measures in 2015. In many cases, however, we are concerned that these measures won’t be significant in stimulating borrowing because underlying demand remains tepid. In fact the aggressive targeting of inflation at all costs risks being net contractionary force, a form of beggar they neighbour policy of competitive devaluation.

From an investor perspective the conditions remain benign. Away from policy errors, we are seeing a synchronous expansion in employment across the majority of major economies and at the same time falling input costs are going to help margins and disposable incomes. As a result we expect to see weaker growth, and consequently weak revenue growth but reasonable earnings with modest downgrades.

Policymakers trying to fight inflation is a recipe for continued strength in the bond markets and continued valuation expansion as all invested assets re-rate upwards. We see this combination helping the FTSE to a level of 7000 which would represent a capital gain of 11% from Friday’s closing price of 6,300. Added to which we expect shares to yield some 3%, more than bonds and instant access bank accounts which gives a total return of 14% but recognises the increased threat to some dividends.

In the UK we see the election as being unusually troublesome for markets. In general political risk is exaggerated and fears of a Labour victory or a hung parliament have not resulted in trauma for markets. We project that the Conservative will be the largest party in parliament although it will be close. More importantly, however, we don’t believe the Conservatives or Labour have the scope to achieve a majority together or with their current coalition partners, as such a confidence and supply arrangement looks likely which has scope to weigh particularly on the pound. Gilts would likely remain well-bid in that scenario although it might weigh on risk appetite in the equity market to a modest extent.

Interest rates will not rise in the UK until after the election and, given the MPC’s tendency to change monetary when the Bank of England’s inflation report is issued, August looks to be the first available opportunity. There remains, however, real doubt over whether this will prove possible. We believe the MPC would like to prevent consumers from becoming hooked on low interest rates. One rate increase is likely to be the worst the UK should fear in 2015 and, if headline inflation remains weak, even that will be difficult to achieve.

Rates are likely to rise in the United States at the Federal Reserve’s June 17^th announcement. Again the pace will be modest and as New York Fed Chief William Dudley remarked the market’s reaction will determine what happens thereafter. This looks like another year of headwinds for emerging markets and strong bond markets with reasonable potential for equity markets in general.”

Nick Fitzgerald, Head of Financial Planning said “2015 will also be momentous for financial planning. First, it is essential that all pension providers are ready for Flexiday in April and second, we expect there will be two more signals from the Chancellor of sweeteners to come if he is re-elected.

Firstly, that the individual Inheritance tax threshold will be increased to £500,000 (£1m per couple) and as the threshold for Higher Rate Tax will rise to £50,000 by the end of the decade, the top rate of tax will actually reduce from 45% to 40%, corroborating many studies that reducing the topline of tax, actually increases the Exchequer’s tax take.

We predict the journey to introduce both measures will begin next year and be concluded by the end of the next Parliament 2020.

However, we do expect that such incentives may be offset by reduced or even flattening of pension tax reliefs – so invest now while stocks last.”

Research predictions for 2015: 
Brewin Dolphin's Stock and Fund Picks for the New Year
Brewin Dolphin’s predictions for commodities in the New Year

Disclaimers
The value of investments can fall and you may get back less than you invested.
No investment is suitable in all cases and if you have any doubts as to an investment's suitability then you should contact us.
Past performance is not a guide to future performance.
Any tax allowances or thresholds mentioned are based on personal circumstances and current legislation which is subject to change.
If you invest in currencies other than your own, fluctuations in currency value will mean that the value of your investment will move independently of the underlying asset.
The opinions expressed in this article are not necessarily the views held throughout Brewin Dolphin Ltd. No Director, representative or employee of Brewin Dolphin Ltd accepts liability for any direct or consequential loss arising from the use of this document or its contents.

Award-Winning Regional Housebuilder Submits Outline Planning Application To Taunton Deane Borough Council

Multi-award winning Independent developer, C G Fry & Son Limited, announces its submission of outline planning application to build 650 houses, including 25% affordable housing, on land at Jurston Farm, Wellington, which will now be considered by Taunton Deane Borough Council.  

The application is in outline form with the means of access to be determined and proposes a mixed-use development*(please see note to Editors).  This comprises open market and social housing and a local centre and central square.  There is also land reserved for a new primary school and public open space, which will incorporate a number of amenities including allotments, a junior football pitch and a community woodland.

The vision is to create a high quality, urban extension that helps to meet the housing needs of Wellington.  Development of the site will represent an efficient use of land with high quality design creating a genuine community and an attractive environment with a strong sense of place.  The form of development will draw on the rich heritage of the town and, in particular on the attractive streets of the historic core.  

David Lohfink, Land and Planning Director – C G Fry & Son said: “Taunton Deane Borough Council has allocated this site for development within its Core Strategy.  The principle of development is therefore already established and we are now delivering the Council’s vision for the town.  The site’s selection has been through a number of stages in the democratic process and the submission of this outline planning application provides the community with a further opportunity to comment on the proposals.”

Holsworthy Dairy Evening 2014

The annual Holsworthy Dairy Evening hosted by Kivells, now in it's 21st year, is well known in the area as not only a Show & Sale of good quality dairy cattle but also a social event.

Jonathan Gifford (Partner at Haines Watts North Devon) / Adrian Burrows (vendor) / Leonard and Jack Bartlett (Judges).

Jonathon Gifford partner at Haines Watts North Devon (part of the Haines Watts group, named as 'Accountancy Firm of the Year 2014') presented the award for 'Highest PLI In Show' to Adrian Burrows (vendor). The top call on the evening was £2,300 given for the Overall Champion and first place heifer of the show “Perrin’s Piano” a freshly calved homebred heifer sold on behalf of Messrs Hussell of Shebbear and purchased by the judge Len Bartlett of Honiton. The trade stands reported a busy night with a large attendance of dairy farmers from the Southwest and beyond.

See below Kivells full report on the evening: 

Brewin Dolphin’s Charity Investment Services Grows

Brewin Dolphin one of the UK’s leading Wealth Managers, with an office in Exeter is delighted that the popularity of its investment services for charities continues to grow, seeing their ranking rise to 7^th largest charity investment manager in the UK in this years’ edition of the Annual Charity Fund Management Survey. 

Richard Pike, Charities Investment Manager at Brewin Dolphin in Exeter

Brewin Dolphin have charity specialists in every region, the firm manages a large number of charity portfolios, as charities seek specialist advice and portfolio management with their specific objectives, personally delivered by the team managing their funds.

Richard Pike, Charities Investment Manager at Brewin Dolphin in Exeter said, “We are really pleased to have risen further up the league table of charity managers to 7^th place, up from 11^th place 5 years ago.  The market conditions of recent years have required charity investors to consider the role of their investments and their policies carefully and we have worked hard to provide an appropriate portfolio solution for our charity clients in the South West.”

https://www.brewin.co.uk/offices/exeter

Construction Consultants Celebrate 10th Anniversary

The team at Construction Consultants, Haldons Limited with offices in Exeter and Torquay, celebrated their 10^th anniversary with a specially baked Birthday cake, pictured outside their Exeter office at the Sowton Business & Technology Centre.  

 

Photograph by Glen King

L-R: Haldon Ltd Team: Dave Pollock / Simon Buchanan / Mark Coton / Paul Yandall / Maria Coton / Mike Dunning / Hannah Coton / Tom Popham

Mark Coton, a Chartered Surveyor and a member of The Royal Institution of Chartered Surveyors, established the company with his wife, and co-director Maria 10 years ago.  Formerly with a national consultancy based in Plymouth as leader of a team of Building Surveyors and Architectural Technicians, Mark later became office partner establishing a new office in Exeter before setting up his own firm. 

A multi-discipline firm, Haldons provides a wide range of professional services in many sectors across the South West region and throughout the UK as a whole.  These include, Architectural Design, Project Management, Quantity Surveying, Cost Management and Premises Compliance.  Since established 10 years ago, the team has grown to a team of eight.  In the last 12 months the firm has expanded further, with two new members of staff following the engagement of Mike Dunning a Quantity Surveyor and Tom Popham a Trainee Surveyor.

Haldons recently completed a £1.25m project at Sidmouth Victoria Hospital for Northern Devon Healthcare NHS Trust and the co-directors presented the Birthday cake to the team of therapists led by Clinical Manager, Martina Harrison.  

Mark Coton, Director Haldons Limited said: “It is hard to believe that the company has been going for a decade and continues to grow and thrive, particularly in this difficult economic climate.  We wanted to mark this significant milestone with a special cake, which Maria and I presented to Martina and her team at Sidmouth Hospital.  It was a thank you for their continued patient care during the 12 month construction works in and around the hospital.”

www.haldons.co.uk

Brewin Dolphin Exeter's Autumn Statement – “Go For Growth”

Ahead of the autumn statement next Wednesday, Brewin Dolphin urges the Chancellor to focus upon growth, which includes creating a new Business EIS, pushing up the JISA allowance and an end to tinkering with pensions.

Tim Walker - Divisional Director and Head of Office, Brewin Dolphin Exeter

“Britain needs to be allowed to grow,” says Simon Blowey, Divisional Director of Financial Planning. “By softening HMRC’s stance on legitimate tax planning, allowing the pension system to settle down a bit so that savers can trust it and creating and supporting schemes that encourage taxpayer investment in British business, we believe the government can help it to do so.”

Tim Walker Head of Brewin Dolphin in Exeter, said: “The majority of our wish list would be a huge Christmas present for British families, much of which would cost the Chancellor very little. Let’s hope he listens before next week’s statement.”

Simon Blowey, Divisional Director Financial Planning at Brewin Dolphin, details his ideas for growth:

Surety on pensions:

“The welcome and revolutionary changes to pensions need time to bed in, be properly understood and simply communicated to savers – especially those nearing retirement who face some bewildering choices,” he said. “Let’s see some assurances from the government that there are no further big changes on the horizon.”

A less aggressive attitude from HMRC:

“A general anti-abuse rule has been established, but there is a danger that HMRC is still treating statutory reliefs such as EIS, VCT and BPRA planning with suspicion and this has investors running scared,” he said. "The Treasury needs to encourage, rather than hinder or frighten investors in such areas, and focus upon the wider public benefits as the underlying investments encourage huge economic generation.”

An increase in the Inheritance Tax threshold:

“With a nil rate band (NRB) increase of less than £100k in the last 15 years, 1 in 20 households are caught by IHT. By 2019 – now only four years away, it is predicted to be 1 in 10 households – scarcely the rich minority the tax was meant to hit. We would like to see the inheritance tax NRB raised to £500k per individual.”

Increasing the JISA allowance to £15,000:

“The current JISA allowance of £4,000 a year is far too low to encourage real saving for university fees,” Blowey said. “Increase the JISA allowance to match the NISA. This will encourage parents to really save for their children’s future – when this cash will be much needed.

A continuation of reliefs aimed at new business growth including:

A Business EIS

“A scheme similar to the individual EIS scheme would free up nearly half a £trillion in cash sitting on big company balance sheets and encourage investment in smaller companies. Such a scheme would bring invaluable knowledge and experience from within big business, as well as the cash investment,” he said. “The Centre for Entrepreneurs wants to promote corporate venturing by creating incentives for large firms to draw on their combined £488bn of capital for investment in SMEs.”

A rise in the VCT threshold:

“An increase in the VCT threshold from £200k to £500k would further encourage ‘investment in growth’ in smaller companies, so that UK Plc can re-energise economic growth.”

An extension of the SEIS scheme:

“With the successful Seed Enterprise Investment Schemes scheduled to come to an end in 2015, we would welcome a 5 year extension to tie-in with the next Parliament, avoiding political uncertainty. We would like to see an increase to the individual investor limit to £150k and company raised investment to £250k, demonstrating The Treasury’s support for entrepreneurial start-ups.”

More business-friendly measures:

“We would like to see the creation of a ‘Silicon Roundabout’ broad brush of business-friendly measures, to continue supporting the organically growing UK technology and science entrepreneurs. This would cement the UK’s position of global importance alongside the US’s Silicon Valley, attracting high value jobs to this growing sector.”

Other Brewin Dolphin experts suggest the following changes.

Stephen Williams, Divisional Director UK Equity Research suggests the following measure to ease the property market for new entrants:

 “We’d like to see the Chancellor radically reform stamp duty. It should be paid on the sale of a house, rather than the purchase, making it easier for first-time buyers to find sufficient money to buy a house and capped for the over-65s, to allow them to downsize more easily - which would in turn free up homes for struggling families.”

Ian Armstrong, oil and gas research expert wants to see changes in the tax position in the North Sea.

“The North Sea has been a political football and the Chancellor has made numerous changes to appease the Scots (as well as increase the Treasury’s coffers) so it is about time that he sorted out an attractive medium / long term tax regime,” he said.

“The larger producing fields, which get fewer special investment incentives, are hit with higher corporation tax than other UK companies (30% versus 24%) in addition to Petroleum Revenue Tax. This means they are effectively paying 81% marginal tax; making the North Sea one of the least attractive operating areas in the world.”

“A fuel price escalator should be re-instated to plug the gap in falling tax revenue from the North Sea if the Brent price falls to $75.

While Nik Stanojevic, Divisional Director UK Equity Research suggests the following possibilities for the Utilities sector:

“Looking ahead to the Autumn statement, investors would be keen to see any change of emphasis away from affordability toward security of supply and enough investment in new power generation to ensure that power cuts do not occur. National Grid, who is the UK’s electricity system operator, predicts that the reserve margin (excluding special supply / demand capacity payments) will fall from an already tight 4.1% this winter to around 2% next winter. The reserve margin is a measure of the system’s ability to deal with peak demand on the darkest coldest day – most utilities consider above 5% as comfortable.”

“However, given the popularity of the Miliband election promise, investors may be disappointed.”

Freeing Up Land Is The Key To Solving The Housing Crisis, Experts Say

Making more land available, supporting smaller housebuilders and channelling both public and private investment into affordable homes will solve Britain’s housing crisis, experts said this week.

Stephen Williams, Brewin Dolphin equity analyst

 

Speaking at a roundtable hosted by Brewin Dolphin, the leading wealth manager, experts from housing advocates Shelter, housebuilder Galliford Try and Brewin Dolphin discussed ways of dealing with the gap between the 110,000 estimated new homes that are being built every year and the 232,000 that are actually needed.

Brewin Dolphin equity analyst Stephen Williams said that, investing in affordable housing should be “a win, win situation for those in need of a new home, investors and the housebuilders.”

“The majority of volume housebuilders are not interested in affordable housing but those companies considering partnerships and joint ventures into affordable housing indicate the significant potential for investors. There is a huge opportunity and new ventures are opening to respond to this. ”

Solutions that the experts discussed included:

Building new garden cities

Deputy Prime Minister Nick Clegg is expected to announce a string of new garden cities between Oxford and Cambridge within weeks, while Shelter has proposed a garden city on the Medway in Kent.

Peter Jefferys, Senior Policy Officer at Shelter, said these developments are crucial not just in making affordable housing available to those most in need but also in creating crucial jobs, by building homes on attractive, yet complex, sites as well as mixed use projects with commercial elements. Every facet of the development process benefits, including the preparation that goes into making a site developable in the first place.

Giving cities greater powers to manage their own housing solutions

Jefferys said that the key to solving the crisis was to “give cities the power to be able to grow effectively to meet their housing need.”

“There are other countries that are excellent at doing this. Germany and the Netherlands in particular have built affordable, quality homes in densely populated areas by giving their cities the power to zone land and set up joint public/private development partnerships. The UK has done similar things – for example the Olympic Park – but never at scale across the country,” he said.

A hybrid public private business model for housebuilding

Public land should be brought in at low or nil-cost, with rental income generating a yield over the investment period instead of up-front payments. This is a particularly good method for dispersed public land, said Stephen Teagle, MD of Affordable Housing and the Regeneration Division at Galliford Try.

“How can the private sector help to develop something traditionally provided by the public sector?” Teagle asked.

“The demand is there, affordable housing is fundamental to UK infrastructure and the city can provide the means for supply to meet demand. Viable schemes will attract the investment and the investors are ready to commit. The housing supply crisis can begin to be addressed by housebuilders using a blended model and delivering mixed tenure solutions with housing associations.”

 A longer term perspective on current housing

Shelter said there needs to be greater fiscal incentives put in place by policy makers to encourage investment into the sector, recognising the shortage. If people are to be living in these new builds for the next few centuries, they can’t survive on “rabbit hutch” 1 and 2 bedroom houses alone, so larger variety of housing categories need consideration. Further, recent schemes such as the “help to buy” scheme find people getting stuck; leveraging themselves heavily without any ability to move on once their families grow.

Waiving stamp duty for older people

Williams raised the question of whether, by waiving stamp duty for empty nesters with larger homes, they might be encouraged to downsize.

The key is land supply

All of the experts involved in the roundtable agreed that land supply is the real key to solving Britain’s housing shortage.

When asked for a wish list from the next government, Teagle wanted to see reform of planning permission, fiscal incentives for investors and the freeing up of registered providers and local authorities to release more land at a faster pace. Shelter agreed land is the biggest issue. 

Wealth Managment Company Helps With 130th Anniversary Celebrations For Local Rugby Football Club

Exeter-based Wealth Management Company Brewin Dolphin, organised a special coaching session by two Exeter Chiefs players with the Sidmouth Rugby Football Club which is celebrating its 130^th anniversary. 

Photographs by Bruce Thomas of Image Creation - Terry O'Brien (Rugby Secretary of Sidmouth RFC) / Richard Kirk (Match and Player Analyst at Sidmouth RFC)  / Dan Goddard (Chairman of Rugby at Sidmouth RFC) / Bob Smith (Coach) / Phil Dollman (Center/Full-back, Exeter Chief) / Sean Priestly (Assistant Director, Brewin Dolphin Exeter) / Ben Moon (Prop, Exeter Chief) / Mark Seward (Sales and Marketing Director at Sidmouth RFC) / / Bob Baugh (Second Team Manager at Sidmouth RFC) / Mark Beavis (Head Coach of Sidmouth RFC) / Phil Bye (Coach at Sidmouth RFC)

Founded in 1884, Sidmouth RFC is playing this season in the Western Counties West League.   Brewin Dolphin organised the visit by Chiefs first team players Phil Dollman and Ben Moon to the club’s home ground to help prepare the Sidmouth Chiefs train for their league game against Tavistock Away.

Sean Priestley Assistant Director, Brewin Dolphin Exeter said: “As a national company with local offices, Brewin Dolphin believes in supporting the communities it is a part of.  The various sporting clubs based in Sidmouth do a fantastic job to both foster and develop local sporting ability, mainly through the efforts of their members on a voluntary basis.  Over the last few years, the Exeter office has been providing on-going support and sponsorship to a number of these clubs in Sidmouth, including football, rugby and cricket.  We are delighted, therefore, to arrange this unique opportunity to help celebrate this momentous milestone for the local club. Exeter Chiefs is the West Country’s premier rugby club and it’s a great way to help raise the profile of Sidmouth Rugby as well as offer a rare chance for the squad to be coached by professional players.  I particularly want to thank Chris Bentley and Tony Walker of Exeter Chiefs for supporting us on this and Phil and Ben for fully engaging with the team.”

A former Wales Under-18 International, Dollman (29) began his club rugby with Bedwas before switching to the Newport-Gwent Dragons and then the Chiefs in 2009. Signed by the Chiefs to bolster their Championship challenge, he immediately helped them earn promotion to the Premiership in his first season at the club. A Chiefs legend in the making; Phil, an integral member of the squad from the championship days has been unfortunate to have not been recognised at the international level following solid performances year on year. Welsh by birth, Phil has adopted Devon as a second home and has played in the first team backline in every position barring scrum half. Famous for his dazzling footwork and pinpoint passing accuracy he is always one of the first names on the Chiefs team sheet.  Phil played his 100 league game against the Wasps and has scored 16 tries in 131 games in total for the club. 

Team-mate Ben Moon (25) and Cullompton’s favourite son played for the England's under 16's, under 18's and the 20's. He was part of the Ivybridge Rugby Academy which is where he was signed by Exeter Chiefs, and he also was a junior at the Cullompton Rugby Club.  Ben made his Chiefs debut at home to Sedgley Park in 2008.  Since that time he has established himself as a regular face in and around the Exeter first team.

The Colts joined the Sidmouth RFC first team in two separate training sessions with the Exeter Chiefs.  Ben Moon focused on scrummage and line out with the forwards, whilst Phil who has just agreed a new two-year deal with the Aviva Premiership club, concentrated on strike moves with the backs.

Phil Dollman (Exeter Chief) / Sean Priestly (Associate Director Brewin Dolphin) / Ben Moon (Exeter Chief) with the Sidmouth Rugby Football Club

Chris Bentley – Corporate Sales at Exeter Chiefs said: “It’s great for the guys to get out and do a bit of work for local clubs and we’re really pleased for the support from Brewin Dolphin in putting this all together. With a young team and new coaching set up at Sidmouth still settling in we hope that Phil and Ben may have a few pointers to give the team a winning edge in the weeks to come. With big games to focus on at Exeter Chiefs later in November against Wasps and Saracens, we hope that a few of the players may make the trip up to Sandy Park to reciprocate the support!”

At the beginning of November, 93 members, guests and sponsors gathered in the clubhouse to celebrate the 130th anniversary of Sidmouth RFC in the company of guest-of-honour Bill Beaumont CBE, chairman of the RFU. Another notable guest was Exeter Chiefs and England back row forward Thomas Waldrom which raised over £2,000 for the clubhouse refurbishment fund.  

Dan Goddard – Chairman of Rugby, Sidmouth RFC. Comments, “It’s great for our club when professional rugby players like Phil and Ben take a coaching session and pass on their experience and expertise to the grass roots of the game. Over the last week there has been a real buzz around the club; and I am sure we will all have a great evening. Following recent good wins by our 1st XV and Colts teams we look forward to their session helping motivate us for our upcoming games.  We are delighted that Brewin Dolphin has organised this special practice with the Exeter Chiefs and given us this opportunity.”

Sidmouth Rugby Football Club is looking for new players and welcomes participants at all levels of experience. Anyone who is interested in joining and playing for a forward thinking club is urged to contact Terry O’Brien on M: 07815757057 or e-mail tobrien@sidmouthrfc.co.uk

www.brewin.co.uk/exeter

Michael Spiers Jewellers Host Champagne Reception To Preview New Tudor Range

Luxury jewellery and watch retailer Michael Spiers, the official Rolex and Tudor retailer in the South-West region, welcomed guests to a private champagne reception. The sparkling event was held at their Exeter store to launch the new Tudor range of Swiss watches.  Guests enjoyed an exclusive preview of the new Tudor range as the marque re-launches in the UK and Ireland, offering distinct watch collections based on Tudor’s heritage.

Photograph by Matt Round Photography - Adam Spiers (Director of Michael Spiers / Martin Robertshaw (Tudor) / Tom Taylor (Michael Spiers) / Richard de Leyser (Managing Director of Rolex & Tudor) / Michael Cox (Director of Michael Spiers)

www.michaelspiers.co.uk

Exeter Christmas Turkey Farm Celebrates 75 Years

Father and son farming partnership Mike and Tim Leach of Glebelands Farm, Upton Pyne celebrates 75 years of rearing top-quality turkeys and geese specifically for the Christmas market with the launch of a new website called ‘TastyBird’.

PHOTOGRAPH BY MATT AUSTIN

Tim and Mike Leach of Glebelands Farm, Devon home of ‘TastyBird’

Free-range bronze turkeys and geese roam freely through the fields and are fed with natural cereals from the farm with no growth promoters or antibiotics.   White turkeys are happily housed in straw-bedded barns with space to walk around and all poultry are reared to full maturity and hung for up to 14 days to give a fuller flavour.

The third generation family were originally dairy farmers with mixed-used farming and capons.  Today Glebelands Farm on the outskirts of Exeter, has sheep and beef cattle and grow wheat, barley and oil-seed rape on the 200 acre farm; the mainstay of the business, however, is rearing high-quality poultry for the festive period.

Mike’s parents married in 1939 were originally dairy farmers when Vida Leach, Mike’s mother and Tim’s Grandmother decided to rear 50 turkey chicks to raise a bit of extra cash for Christmas.  Now in its 75th year, the entrepreneurial farming duo have grown the thriving ‘TastyBird’ business to over 4,000 turkeys and 600 geese and ducks. 

Over the last 50 years, the family business has been supplying local reputable West Country butchers, farm shops and the catering trade as well as the ever popular farm-gate sales.  Tim joined his father in the business 10 years ago and since that time the farm has increased its sales to high-quality butchers across the region from Penzance to Bristol, and via orders through the website with deliveries across England and Wales.  Moving with the times and listening to the needs of their busy customers, they now also supply half-size small turkeys, turkey crowns and prime turkey breast meat for easy carving with optional chestnut, cranberry and orange stuffing.

Mike Leach of ‘TastyBird’ said: “Tim joined me at the farm a decade ago and the turkey business has really taken off increasing from 500 to over 5,000. The poultry are all traditionally raised and fed cereals from the farm which is an important factor for the modern-day consumer which has been proven with increased awareness and sales direct from the farm and through the website.  Although we have grown the business ten-fold, we are still very much hands-on farmers at the end of the day and welcome farm-gate sales, actively encouraging members of the public to visit the farm.  This means they have the assurance of knowing first-hand that they are getting a mature, farm-fresh turkey or goose for Christmas.  After all, it is the most important date in the calendar for families to come together for a traditional festive feast and they want to know they are getting the best bird that money can buy with maximum flavour.” 

The ‘Tasty Bird’ business is affiliated with The Traditional Farmfresh Turkey Association’ (TFTA) which dictates that traditional free range bronze and barn reared white turkeys, are grown to the highest welfare standards.  The association’s ‘golden promise’ states that traditional farm fresh turkeys are naturally reared on grass or in woodland and fed on locally sourced feed. This means the farm produces Christmas turkeys of the highest quality, finish, flavour and texture and presentation by traditional methods without the use of growth promoters and by the highest welfare and environmentally friendly means available.

Once matured at 23 weeks, the turkeys on Glebelands Farm are slaughtered humanely in early December under stringent regulations set by ‘The Traditional Farmfresh Turkey Association’ (TFTA).

Tim Leach of ‘TastyBird’ said: “We are welfare standard accredited with TFTA, and are part of the farm assurance scheme to ensure high standards of animal welfare. The ministry vets us to check that slaughter is done properly and we are regularly monitored.  It gives complete peace of mind to our customers.  Our traditionally raised poultry bear no comparison to those bought at supermarkets where they can be flavourless and often pumped with water. This means once they are defrosted the weight on the packaging may be inaccurate. At Glebelands Farm our turkeys and geese are grown to full maturity and to the highest welfare standards.  They are  dry plucked and hung for at least seven days according to traditional farming methods which has been handed down to us through three generations.”

The poultry is initially plucked by machines, a substantial investment of £20,000 made by the entrepreneurial farmers, which removes 85% of the feathers.  Finally the birds are dry-waxed and the remaining quills removed by hand by the 15-strong labour force, most of whom have been part of the team working at the farm for many years. 

The turkeys are then hung in large, specially made refrigeration units for up to 14 days to enhance flavour, before being eviscerated, cleaned and boxed for delivery or collection from the farm. Tim comments:  “They are matured in temperature controlled rooms which meet stringent regulations with regular on-site inspections by DEFRA, MHS and Trading Standards.”

www.tastybird.co.uk

Independent Developer Opens New Taunton Office

Independent builder C G Fry & Son Ltd., known for its quality of build and attention to detail, announces the opening of a new satellite office at Victoria House in Victoria Street, Taunton.  

 Mike Pinney Contracting Director and Caroline Hill, Head of Sales & Marketing of C G Fry & Son outside new Taunton office

The award-winning company is internationally renowned for its prestigious Poundbury development with The Duchy of Cornwall, which has been a NHBC award-winning site for C G Fry & Son on no less than five occasions.  The privately-owned builder also picked up a total of four individual NHBC Quality awards in as many different counties in July this year.  This included the company’s Fern Green in Langport, Somerset for site manager Dave Pillinger at the ‘Pride in the Job’ 2014 awards.  The firm won further awards at the South West regionals held at Weston-super-Mare in October including regional winner for Poundbury.

A family-run company with its head office based near Dorchester, C. G. Fry & Son was established in the early 1920’s by Managing Director, Philip Fry’s grandfather.  The company today has a turnover of over £50 million and carries out projects in contracting, development and partnership housing across the South West Region.  The company delivers projects in a variety of ways including formal partnering arrangements, Design & Build or through traditional or two-stage tender process.The new Taunton base will be utilised to service minor contracting works, extensions, refurbishment and new/major projects up to a value of £4m across a large number of sectors throughout Somerset and Devon. With a specialist knowledge of historic and listed buildings, the company employ a direct labour force of skilled tradesmen including carpenters and stonemasons.  The company has its own joinery works with a range of craftsmen who design and make bespoke furniture, doors, staircases, traditional window and hand-built kitchens in a range of wood.  The team of qualified craftsmen across a number of trades is supported by a robust supply chain of quality subcontractors to deliver high standards across a number of sectors.

Two recent C G Fry & Son contracting projects in Somerset are located in the charming and picturesque village of Trull just 2.5 miles from Taunton.  These are a stand-alone two-storey classroom block for Trull Primary School and a new community centre for All Saints Trull Parochial Church Council completed at the end of September.

Mike Pinney, Contracting Director - C G Fry & Son said: “With the difficult economic climate, particularly in the construction industry, there have been many unfortunate casualties with a number of reputable building companies in Taunton sadly going into administration or leaving the town.  Part of our company business plan strategy is to grow the Contracting arm of the business and taking an office in Taunton will hopefully open up many more tendering opportunities in Somerset for us to facilitate this growth. In the longer term we are also looking for our Taunton office to help with the growth of the development and partnership housing side of the businesses. We have just completed two great projects in Taunton which we hope is just the start for us in Somerset.”